“The concept behind the Pensions Dashboard is brilliantly simple – savers should be able to see at a glance what money they are likely to have in their retirement, based on all the pensions they’ve gathered during their working lives. The practicalities of making this happen are, however, very complex and involve securely retrieving and presenting a large amount of personal and financial information for every person of working age in the country.

“The pensions industry - in all its forms - is committed to delivering the Pensions Dashboard, which has the potential to revolutionise how people think about saving for later life. It’s great to see how many technology firms share our vision of accessible pension information as the project goes from strength to strength.”

Simon Kirby, Economic Secretary to the Treasury, said:

“I am delighted to see the pensions industry and the FinTech sector collaborating to make the Pensions Dashboard a reality. We are making great progress in ensuring people will have all the information they need in one place so they can plan more easily for their future. This is a very positive development for consumers and I look forward to seeing a working prototype by March 2017.”

Background to the Pensions Dashboard:

As announced by Economic Secretary to the Treasury Simon Kirby in September, the pensions industry has committed to creating a Pensions Dashboard prototype which will be ready for testing by March 2017, with the prototype project completing in May.

Since this announcement, the number of pension and long-term savings firms contributing to the project has grown to 17 and encompasses all parts of the pensions industry. A full list of the firms involved is available here.

The goal of the final Pensions Dashboard infrastructure, due to be ready for public use in 2019, is to allow everyone to be able to access details of all of their pension savings, including the State Pension and any final salary schemes, in a single online place of their choice.